debt consolidation

[det kuhn-sol-i-dey-shuhn]

noun

Finance.

1. the combining of several smaller loans into a single new loan in order to obtain better terms, as a lower interest rate.

Word History and Origins

Origin of debt consolidation¹

First recorded in 1925–30

Example Sentences

“We find a substantial increase in bankruptcy rates, debt collections, debt consolidation loans, and auto loan delinquencies” in those states, they wrote, consonant with an increase in excessive debt among players.

Read more on Los Angeles Times

If you can’t find a lower APR rate with a balance transfer, look for a debt consolidation loan through a lender like SoFi.

Read more on Slate

With a debt consolidation loan, you’ll only owe one lender instead of multiple.

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Her multibillion-dollar debt consolidation company is cruelly named Redemption Services.

Read more on Salon

Fixed-rate debt consolidation loans are available to borrowers across the credit spectrum at banks, credit unions and online lenders.

Read more on Seattle Times